Patriot Financial Group Insurance Agency LLC Sells 129 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Patriot Financial Group Insurance Agency LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,075 shares of the home improvement retailer’s stock after selling 129 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lowe’s Companies were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Concord Wealth Partners raised its position in Lowe’s Companies by 1.3% during the third quarter. Concord Wealth Partners now owns 7,491 shares of the home improvement retailer’s stock valued at $2,029,000 after acquiring an additional 95 shares in the last quarter. Smithbridge Asset Management Inc. DE raised its position in Lowe’s Companies by 81.2% during the third quarter. Smithbridge Asset Management Inc. DE now owns 4,250 shares of the home improvement retailer’s stock valued at $1,151,000 after acquiring an additional 1,904 shares in the last quarter. Summit Place Financial Advisors LLC raised its position in Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after acquiring an additional 37 shares in the last quarter. Greenspring Advisors LLC bought a new position in Lowe’s Companies during the third quarter valued at approximately $214,000. Finally, Marmo Financial Group LLC bought a new position in Lowe’s Companies during the third quarter valued at approximately $237,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $262.99 on Wednesday. The company’s fifty day moving average is $261.76 and its 200-day moving average is $240.30. Lowe’s Companies, Inc. has a 52 week low of $183.79 and a 52 week high of $287.01. The company has a market capitalization of $149.86 billion, a PE ratio of 21.12, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.56 earnings per share. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LOW. JPMorgan Chase & Co. dropped their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Bank of America lifted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.60.

Lowe’s Companies Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.